Oct. 29, 2022
October 29, 2022 To whom this may concern Securities lending hinders my right to vote in matters of corporate governance and to receive tax-qualified dividends. Further, a fail-to-deliver (FTD) that is closed with a borrowed share leaves open an IOU with the lender. Therefore, securities lending harms market efficiency by inflating the number of shares in circulation, which hampers true price discovery by artificially increasing supply. The public (retail investor) should be notified about who is borrowing and lending shares (not just which companys shares are being borrowed or lent) especially for those who hold 'street name' shares - as they may lose their chance to vote or receive tax-qualified dividends. The revenues for lending shares held for retail investors should also be shared with said retail investors. This requires meticulous book-keeping by brokers which must be enforced by the SEC. Lastly, every securities loan should have a due date. Thanks